SS&C Technologies (NASDAQ:SSNC) Issues FY24 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.12-5.18 for the period, compared to the consensus estimate of $5.16. The company issued revenue guidance of $5.815-5.855 billion, compared to the consensus revenue estimate of $5.80 billion. SS&C Technologies also updated its FY 2024 guidance to 5.120-5.180 EPS.

Wall Street Analysts Forecast Growth

SSNC has been the subject of a number of research analyst reports. DA Davidson reiterated a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Raymond James lifted their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded down $5.11 during trading on Friday, hitting $70.04. The company had a trading volume of 5,279,461 shares, compared to its average volume of 1,045,626. SS&C Technologies has a 12 month low of $46.61 and a 12 month high of $77.02. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $17.32 billion, a P/E ratio of 27.77 and a beta of 1.38. The stock has a 50 day simple moving average of $74.43 and a 200 day simple moving average of $67.66.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. As a group, analysts anticipate that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

SS&C Technologies declared that its board has authorized a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the transaction, the director now owns 333,576 shares of the company’s stock, valued at $25,144,958.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.